Small but Steady

Chiles LarrainVial continues to thrive in a local capital
market that generates a steady flow of business for the
countrys longstanding independent investment banks.

Indeed the relatively small size of domestic transactions
has arguably worked in its favor, shielding the shop from
larger foreign competitors that tend to focus on bigger trades.
The entrance of Brazils BTG Pactual after its acquisition
of Chilean specialist Celfin may change all that, but this year
LarrainVial has been a clear leader.

The large international investment banks tend to
attack only very large deals, says Felipe Porzio,
director of corporate finance...